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CSR Initiatives

With Shareholders and Investors

Management Conditions and Dividends

Mazda engages in a variety of investor relations initiatives in keeping with its policy of timely and appropriate disclosure of information.

Management Conditions and Dividends for FY Ended March 31, 2013

With regard to the economic and businessenvironment surrounding the Mazda Group, in overseas, although the U.S. economy is recovering, the pace of recovery is slow, and the economic stagnation in European countries has been prolonged. In emerging countries as well, the pace of economic expansion has slowed, while some countries showed signs of picking up. In Japan, reconstruction demand following the Great East Japan Earthuquake was expected to prop up the economy, and the improvement in the export environment with the correction of the yen appreciation was expected to lead to economic recovery. However, the outlook for the economy remains uncertain, affected by concern about a downturn in the overseas economy.

Under these circumstances, Mazda Group is stepping up its efforts to improve its earnings structure through steadily implementation of key initiatives based on its Structural Reform Plan and the introduction to major markets of new models with the new-generation SKYACTIV TECHNOLOGY.

CX-5, an excellent seller globally, enjoyed sales of more than 200,000 units, which greatly exceeded the initial sales plan. In particular, SKYACTIV-D (clean diesel engine) received high acclaim, and vehicles equipped with SKYACTIV-D accounted for approximately 80% of domestic sales; this created a new diesel market. In response to the strong sales, Mazda increased the annual production capability of CX-5 to 240,000 vehicles. In addition, the second model equipped with SKYACTIV TECHNOLOGY, the new Atenza (Mazda6 overseas) began to be introduced in major countries, and it was highly evaluated.

The global sales volume was 1,235,000 vehicles, falling 1.0% from the previous fiscal year. Net sales increased 172.2 billion yen (8.5%), to 2,205.3 billion yen owing to the increase in wholesales volume, and the product mix improvement, resulting from SKYACTIV TECHNOLOGY vehicles. Operating incom was 53.9 billion yen (an increase of 92.7 billion yen year-over-year), owing to improvements in volume, product mix and cost. Ordinary incom was 33.1 billion yen (an increase of 69.9 billion yen year-over-year), and net income was 34.3 billion yen (an increase of 142 billion yen year-over-year). Mazda was able to be in the black at all profit levels, thanks to the contribution of vehicles equipped with SKYACTIV TECHNOLOGY and other factors.

The Company's dividend policy is to determine the dividend by taking into account the fiscal year's business results, as well as factors such as the prevailing management environment. In consideration of the status of its retained earnings carried forward, the Company decided to forgo payment of a year-end dividend for FY ended March 31, 2013. Mazda views shareholder returns as one of its top priorities, and aims to resume dividend payments as soon as possible.

Results for the fiscal year ended March 31, 2013
(Billion yen)
Full fiscal year
FY March 2013
YOY changes
Net sales 2,205.3 172.2
Operating income 53.9 92.7
Ordinary income 33.1 69.9
Income before tax 39.1 94.4
Net income 34.3 142.0
Operating income ratio 2.4% 4.3pts

The Medium– and Long–Term Outlook and the Structural Reform Plan

The Structural Reform Plan has been steadily implemented since its announcement in February 2012, and Mazda saw major results for FY ended March 31, 2013 including achievement of positive figures at all profit levels. In the future, Mazda will continue to reliably implement the four pillars of the Structural Reform Plan in order to achieve the targets of "150 billion yen in operating incom," "6% or more operating return on sales," and "a global sales volume of 1.7 million units" provided in the medium- and long-term outlook.

Structural Reform Plan
Structural Reform Plan

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